Why Vipshop Holdings Shares Plunged Today
Shares of Vipshop Holdings (NYSE: VIPS) have plunged today, down by 11% as of 12:30 p.m. EST, after the company reported fiscal third-quarter earnings results. Shares jumped last week, but earnings are knocking them back down.
Revenue in the third quarter rose 28% to $2.3 billion, which translated into non-GAAP net income of $84.1 million, or $0.14 per ADS. Gross profit increased by 19% to $526 million. Vipshop added three warehouses during the quarter in Taiyuan, Hohhot, and Hefei, China, and now has a total of 14 local warehouses.
Image source: Getty Images.
Source: Fool.com
Vipshop Holdings Ltd. ADR Stock
€14.70
0.680%
Vipshop Holdings Ltd. ADR is currently one of the favorites of our community with 7 Buy predictions and no Sell predictions.
With a target price of 18 € there is a positive potential of 22.45% for Vipshop Holdings Ltd. ADR compared to the current price of 14.7 €.
